UK Court Set to Order Seizure of £100 Million from Ibori for Fraud, Money Laundering

A London court is on the verge of ordering the confiscation of more than £100 million ($129 million) from James Ibori, the former governor of Delta State, Nigeria.

Ibori, who was convicted of fraud and money laundering in the United Kingdom, is facing the potential seizure of funds considered to be the proceeds of his criminal activities.

James Ibori’s case has been a protracted legal battle, and after more than a decade of delays and court proceedings, the prosecution is nearing the conclusion of the confiscation proceedings.

According to reports from Reuters, Judge David Tomlinson of Southwark Crown Court has made factual findings regarding the amount of money Ibori benefited from his crimes. At a recent hearing, both the prosecution and defense presented their arguments on how the confiscation figure should be calculated based on the judge’s findings. The court is expected to finalize and issue the confiscation order imminently.

The lead prosecution counsel, Jonathan Kinnear, informed the court that the total amount to be confiscated from Ibori was £101.5 million. In the event of non-payment, Kinnear recommended an additional prison term of between five and ten years.

James Ibori’s conviction in 2012 stemmed from his involvement in 10 charges of fraud and money laundering. He had fled Nigeria in April 2010 while facing corruption charges, leading to his arrest in Dubai by Interpol. He was subsequently extradited to the UK to face charges of massive corruption and money laundering.

Despite being sentenced to 13 years in prison, Ibori served only four years before being released in 2016. His return to Nigeria in 2017 sparked debates over his continued influence in Nigerian politics, as he remained well-connected and influential in the Niger Delta region and beyond.

The case against Ibori highlights the issue of corruption and money laundering, with the UK often seen as a global hub for illicit financial activities. While Britain boasts developed financial and legal services, it is rare for foreign kleptocrats attracted to the country to be prosecuted. Ibori’s case remains an exception in this regard.

With the legal proceedings drawing to a close, the UK has pledged to return any money recovered from Ibori to Nigeria. In 2021, £4.2 million was repatriated to Nigeria, having been confiscated from Ibori’s ex-wife and sister, who were also convicted of assisting him in money laundering activities.

The pending confiscation order is seen as a significant step towards holding corrupt individuals accountable for their actions and recovering stolen public funds. As the court finalizes its decision, the outcome could have far-reaching implications for future cases involving corrupt politicians and their ill-gotten gains.